Blockchain investigator ZachXBT has once again warned the community about the emergence of fake cryptocurrencies that use his name and image. According to him, multiple tokens were launched on different blockchains over the past week to take advantage of the visibility he gained through his work in the sector.
The specialist also reiterated that he has no connection to these projects and stated that he has never participated in the creation or promotion of a meme coin. The statement follows the position he has maintained for years regarding this type of asset.
In addition to the warning, ZachXBT explained how he manages the cryptocurrencies sent to his public donation wallet. According to him, all tokens received are sold immediately, with no exceptions.
The amount raised is entirely allocated to charitable initiatives. In this way, the assets received are not used for personal investments and are not kept stored in his wallet.
Altogether, about US$ 41 thousand were donated through the The Giving Block platform to support humanitarian actions after the earthquake that hit Venezuela.
Among the transfers made are 25 thousand USDT sent to GiveDirectly on July 6, another 5 thousand USDT destined for Direct Relief on the same date, and 153 SOL, equivalent to approximately US$ 11 thousand, sent to Direct Relief on June 28.
ZachXBT has become one of the main references in investigations involving cryptocurrencies after revealing multiple scams and identifying suspicious market activity. His work often helps investors and companies identify frauds.
The stance against meme coins is not recent. In April, the investigator said he never promoted, launched, or shared the contract address of any token of this type with his followers.
At the time, he also explained that his public wallet exists only to receive donations that fund his investigations. All tokens sent to the address are sold, and the funds go to charitable actions.
That position had already been reinforced in December 2023, when ZachXBT temporarily disabled his account on the social network X. Before stepping away, he warned users not to buy cryptocurrencies that use his name.
Even with the warning, several tokens appeared, mainly on the Solana blockchain, trying to exploit his identity. Community members came to his defense, highlighting the importance of his work in combating cryptocurrency scams.
More recently, ZachXBT redirected his investigations to MemeCore. The researcher questioned the project's billion-dollar valuation and drew attention to the fact that people with inside information apparently controlled more than 90% of the token's supply. He also criticized exchanges that listed the asset despite the warning signs.
In addition to MemeCore, the investigator also expressed similar concerns regarding the SIREN and LAB tokens this year, keeping his focus on identifying projects that could pose risks to participants in the cryptocurrency market.